BusinessPerf.Projection-Amend

Toyota Motor Corporation
20 November 2001


Letter to Company Announcements Office


Toyota Motor Corporation: The Company issued 'Notice Concerning Amendments to 
the Business Performance Projections'.

Attached is the English translation of the original Japanese-language document. 
The notice was submitted to Tokyo Stock Exchange on 20 November 2001.

The Company jointly issued the following notices with Hino Motors, Ltd. on 
Hino's amendments to its prospective figures: (1) Interim consolidated business 
performance; and (2) Consolidated business performance, of Fiscal Year 2002 
ending March 31, 2002, respectively, disclosed upon the announcement of the 
financial statements of FY 2001 on May 24, 2001.

Letter from Toyoaki Kawaji
Manager, Financial Reporting Dept.
Accounting Division (FAX: [phone])


(Translation)

To Whom It May Concern:

Filed on November 20, 2001 
Company Name: Hino Motors, Ltd. 
Name and Title of Representative: Tadaaki Jagawa, President Code Number: 7205
Securities exchanges throughout Japan 
Name and Title of Contact Person: Toshihisa Sakaki
General Manager, Public Relations Department,
Corporate Planning Division 
Telephone Number: 03-5419-9320

Our Parent Company: Toyota Motor Corporation 
Name and Title of Representative: Fujio Cho, President 
Code Number: 7203
Securities exchanges throughout Japan


                         Notice Concerning Amendments to 
                      the Business Performance Projections

Based on the movements of our recent business performance, we hereby make 
amendments to the business performance projections disclosed upon the 
announcement of the financial statements on May 24, 2001 as follows:

1. Amendments to the prospective figures of consolidated interim business       
   performance of the Fiscal Year 2002 ending September 30, 2001 (from April 1, 
   2001 to September 30, 2001)

                                                        (In millions of yen, %)


                                         Net sales     Ordinary     Net income
                                                        Income

   Previous projections (A) 
   (Announced on May 24, 2001)             358,000        2,000          1,500
   New projections (B)                     367,694        1,680            125
   Amount changed (B-A)                      9,694         (319)        (1,374)
   % of change                                2.7%       (16.0%)        (91.6%)
   Actual performance from April 1,        344,826         (311)        (9,450)
   2000 to September 30, 2000 
   (interim period of FY2001    

2. Reasons for the Amendments

   The prospective figures of consolidated interim business performance of the  
   Fiscal Year 2002 were announced in May, 2001.  However, the new projection of
   net sales has been increased by 2.7% compared with the previous projection as
   a result of the increase in vehicles produced on commission for Toyota Motor 
   Corporation.

   However, due to the decrease in the prospective figures of interim business  
   performance of consolidated subsidiaries and the effect of the loss resulting
   from valuation of securities, ordinary income and net income are expected to 
   fall below the previously announced prospective figures as shown above.

   
(Translation) 
To:Whom It May Concern:

Filed on November 20, 2001 
Company Name: Hino Motors, Ltd. 
Name and Title of Representative:
Tadaaki Jagawa, President 
Code Number: 7205
Securities exchanges throughout Japan 
Name and Title of Contact Person: Toshihisa Sakaki
General Manager, Public Relations Department,
Corporate Planning Division 
Telephone Number: 03-5419-9320

Our Parent Company: Toyota Motor Corporation 
Name and Title of Representative:
Fujio Cho, President 
Code Number: 7203
Securities exchanges throughout Japan


                       Notice Concerning Amendments to 
                    the Business Performance Projections

Based on the movements of our recent business performance, we hereby make 
amendments to the business performance projections disclosed upon the 
announcement of the financial statements on May 24, 2001 as follows:

1. Amendments to the prospective figures of consolidated business performance of
   the Fiscal Year 2002 ending March 31, 2002 (from April 1, 2001 to March 31,  
   2002)
                                                         (In millions of yen, %)

                                         Net sales     Ordinary     Net income
                                                        Income

   Previous projections (A) 
   (Announced on May 24, 2001)             747,000       12,000         24,500
   New projections (B)                     760,000        7,400         13,000
   Amount changed (B-A)                     13,000       (4,600)       (11,500)
   % of change                                1.7%       (38.3%)        (46.9%)
   Actual performance from April 1, 
   2000 to March 31, 2001 (FY2001)         703,998        3,056        (13,301)

2. Reasons for the Amendments

   The prospective figures of consolidated business performance of the Fiscal   
   Year 2002 were announced in May, 2001. However, the new projection of net    
   sales is expected to increase by 1.7% compared with the previous projection  
   as the vehicles produced on commission for Toyota Motor Corporation are to be
   increased.

   However, due to the decrease in the prospective figures of business          
   performance of consolidated subsidiaries and the decrease in the prospective 
   figures of the gains on sales of assets, etc., ordinary income and net income
   are expected to fall below the previously announced prospective figures as   
   shown above.